Corporate social responsibility is an important construct for corporate communication strategy because all the corporations need to promote their. Executive briefing hrs role in corporate social responsibility and sustainability is. Pdf business ethics, social responsibility and corporate. Does the strategic management field really care about these concepts. The business case for csr will differ from firm to firm, depending on a number of factors. Social responsibility of a company is a main element of the. Strategic management meaning and important concepts. An overview of corporate social responsibility 4 what is the business case for csr. As the names imply, each carries with it a certain perspective on the role of business in society. Implementing corporate social responsibility 18 task 1. The need to incorporate and develop corporate social responsibility within university programs is necessary for future decision makers. A strategic perspective and is published by business expert press the main purpose of the book is to detail the core, defining principles of strategic csr that differentiate it from related concepts, such as. External demands for responsible business practices corporate social responsibility csr. Building corporate social responsibility into strategy jeremy galbreath graduate school of business, curtin university of technology, perth, australia abstract purpose this paper seeks to explore how corporate social responsibility csr can be effectively built into.
Strategic corporate social responsibility management scielo. Pdf corporate social responsibility strategy and competitive advantage are important issues in academic and corporate environments, as there is no. Evaluation of corporate social responsibility and social. Strategic decisions of a company have both social and economic consequences. Strategic corporate social responsibility management for competitive advantage. Pdf strategic corporate social responsibility management. Business should not only be responsible morallyto the stakeholders but also to thesociety, environment and towards a sustainableplan.
The main contributions of this study to the literature are two variables namely corporate social responsibility and social media are discussed as the antecedents of corporate communication strategy. The integration of corporate social responsibility into the strategy of. However, the incorporation of csr, competitive advantage and strategic management into top management decision making processes, forms a set of new alliances that are beginning to gain attention. Pdf strategic management of corporate social responsibility as. In recent years, scholars and managers have devoted greater attention to the strategic implications of corporate social responsibility csr. Corporate social responsibility is a form of management that is defined by the ethical relationship and transparency of the company with all the stakeholders with whom it has a relationship as well as with the establishment of corporate goals that are compatible with the sustainable development of. It takes 20 years to build a reputation and only 5minutes to ruin it. An organization is said to have competitive advantage if its profitability is higher than the average profitability for all companies in its industry. In todays world the business world is performing corporate social responsibility as a strategy in the market including social activity and responsibility through our environment. School of human resource development jomo kenyatta university of agriculture and technology mombasa cbd campus prof g.
Corporate social responsibility csr has become important in the strategic planning of businesses in the productive sectors such as mining and agriculture serenko and bontis, 2009. Corporate responsibility or sustainability is therefore a prominent feature of the business and society literature, addressing topics of business ethics, corporate social performance, global corporate citizenship, and stakeholder management. We benchmark corporate social responsibility curriculum against the principles for responsible management education in two different contexts. Corporate social responsibility is a form of management that considers ethical issues in all aspects of the business. Consistent with mcwilliams and siegel 2001, we define csr as situations where the firm goes beyond compliance and engages in actions that appear to further some social good, beyond the interests of. Corporate social responsibility as a strategy management essay. Your story matters citation cheng, beiting, ioannis ioannou, and george serafeim. Why every company needs a csr strategy and how to build it the topic of corporate responsibility has been captioned under many names, including strategic philanthropy, corporate citizenship, social responsibility and other monikers.
Effects of strategic management practices on corporate social responsibility performance of parastatals in kenya peter situma sasaka p. We hypothesize that better access to finance can be attributed to 1 reduced agency costs due to enhanced stakeholder engagement and 2 reduced informational asymmetry due to increased transparency. We investigate whether superior performance on corporate social responsibility csr strategies leads to better access to finance. Corporate social responsibility, strategy, stakeholder management. In contrast to traditional strategic management approaches, todays companies have focused on the social strategy activities, such as philanthropy, corporate values for having the competitive. Defining corporate social responsibility csr analyses economic, legal, moral, social and physical aspects of environment. Corporate social responsibility and sustainable business. Being a socially responsible company can bolster a companys image and build its brand. Carrefours report on sustainable development is available online in a. Specifically, to describe four options with respect to csr strategies and to offer points of consideration for moving home country csr strategies to host countries. Using a comprehensive measure of business strategy based on the miles and snow organizational strategy, structure, and process, mcgrawhill, new york, 1978, organizational strategy, structure, and process, stanford university press. A comparative case study between yalla trappan and the vegan bar by alexia twingler and priscilla o. The marine management organisation mmo is an organisation that aims to make a positive contribution to society.
Galan and others published corporate social responsibility and strategic management find, read and cite all the. Why every company needs a csr strategy and how to build it. Corporate social responsibility as a strategic management tool. Private politics, corporate social responsibility, and. Corporate social responsibility linkedin slideshare. I recently published a book as part of the united nations principles for responsible management education prme book collection. Purpose this paper aims to fill the existing gaps in literature which deal with both the application of a socially oriented philosophy to the theme of strategic corporate social responsibility. They incorporate these social concerns into their business strategies and are more conscious of their roles in society and their communities outside of business. Corporate social responsibility csr as a concept has been a subject of debate in the management cycle for decades. Increasing adherence to the principles, practices and cultural tenets. Strategic planning is an essential preliminary step in the corporate world in which senior management defines the organizations strategy, direction and decisionmaking. Business ethics, social responsibility and corporate. Strategic corporate social responsibility and value creation. Corporate social responsibility strategy and competitive advantage are.
Corporate social responsibility and access to finance the harvard community has made this article openly available. Management education can be an important source of new ideas. Corporate social responsibility, often abbreviated csr, is a corporations initiatives to assess and take responsibility for the companys effects on environmental and social wellbeing. Csr management system the importance of corporate social responsibility csr as a cornerstone of sustainability in the 21st century cannot be understated. To further the dialogue on corporate strategy and corporate social responsibility csr. Corporate social responsibility and access to finance. Business ethics, social responsibility and corporate governance. Wartick and cochran, 1985wood, 1991werther and chandler, 2006. Social responsibility empowers employees to leverage the corporate resources at their disposal to do good. Business strategy and corporate social responsibility. Role in corporate social and environmental sustainability.
The book is titled corporate social responsibility. In this particular essay, it have been include that what is corporate social responsibilities and what are they, from where and how the csr concept has been started. Pdf corporate social responsibility and strategic management. The wide consideration of corporate social philanthropy as corporate social responsibility csr by managers and their board has not yield the expected strategic benefit, but in reverse it has. Strategic planning and corporate social responsibility is a form of management in which companies take the ethical aspects of their business operations into consideration. Similarly, there is growing interest among managers in the antecedents and con. These include the firms size, products, activities, location, suppliers, leadership and rep utation i. Strategic management is all about identification and description of the strategies that managers can carry so as to achieve better performance and a competitive advantage for their organization. Corporate social responsibility as a strategic shield. However, the incorporation of csr, competitive advantage and strategic. Building corporate social building csr responsibility into. Strategic corporate social responsibility management for. Ethical values and social responsibility serve an important role in the strategic planning process. Corporate social responsibility and strategic management.